Upstream Business

Blake Oil and Gas Limited
Blake Oil and Gas Limited acquired oil and gas extraction projects in Georgia from a US based Canargo Energy Corporation and operates through three offshore subsidiaries which concluded production sharing agreements with the state and have necessary licenses.

  • Ninotsminda Oil Company XI e and XI f license blocks;
  • CanArgo Nazrevi- Xl d and Xlll license blocks;
  • CanArgo Norio – XL c license block;

Blake Oil and Gas Limited operates these three licenses through CanArgo Georgia established in Georgia.

Jindal Petroleum Limited
Jindal Petroleum Limited is an Indian company conducting oil and gas exploration in Georgia on five license blocks Vll a, lX, X, Xlll a and Xl b through off shore subsidiary Jindal Petroleum Georgia Limited since 2009.

Jindal Petroleum Georgia conducts exploration work on four license blocks within the framework of basic operating program set by the agreement and on block Xl b the company conducts oil and gas condensate extraction.

Marin Resourse Exploration International BV
Marin Resourse Exploration International BV (Marexin) was established in 2008. The company is registered in the Netherlands and is engaged in the exploration and development of the natural seabed resources using innovative technologies.

The company is in the process of obtaining exploration licenses in the Black Sea and currently holds licenses to conduct work in the Romanian perimeter, as well as in the Georgian part of the Black Sea.

The company won a 30-year license to extract minerals on the Black Sea shelf at the beginning of 2010.

Strait Oil and Gas Limited
Strait Oil and Gas Limited is a private British company established in February 2006. The company conducts exploration works on two license blocks Vl a and Vl b under two licenses through operator company Strait Oil and Gas Georgia Ltd. Currently, the company conducts drilling operations within the framework of basic operating program set by the agreement.

Frontera Resource Georgia Corporation

Frontera Resource Georgia Corporation is an international oil and gas company that was established in 1996. The company is headquartered is in the USA. Frontera has been operating in Georgia since 1997. The company's activity is focused on exploration and extraction works in East Georgia at the XII license block. For that reason Frontera set up an operator company Frontera Eastern Georgia.